EPF-Is There a BSKL Ruling to Fine it for Churning?

Churning daily to hoodwink?

Company directors of PLCs get fined and reprimanded.

What about the EPF?

It is buying and selling almost always the same counters.

This is definitely churning and trying to create the impression that there is so much volume on the BSKL on some counters.

What I noticed lately is there are a lot of EPF action on Digi.com and YTL Corp.

I think this is very unethical of a large state-owned pension fund to be involved in this.

Already BSKL and the Securities Commission has its shameful closet of ghouls from the indefensible E&O-Sime Darby deal to the  unsupportable listing of Astro that screwed up the investing public's confidence both at home and abroad  by its ridiculously over-rich valuation and allowing cornerstone investors to exit.

The EPF must have someone to direct their buyers to buy certain stocks and not to sell them within the same period.

There must be ORDER in EPF!

It is understandable for the same EPF buyers to trade to make arbitrage profits but certainly downright wrong for some of  EPF buyers to buy and other EPF buyers to sell at the same time. This is churning!

Where is the Commander-in-Chief at EPF?

Apa buat? - twiddling your thumbs?

BSKL-have a re-look at your rules and ensure EPF does not trade against the law to hoodwink innocent investors!

RCE RCPS-Doggone!

And so it came to passed.

There is a principle in law. The thing speaks for itself.

As such there is no need for witness or evidence.

 Open and shut case.

The Hainanese has a word  for a good for nothing or rotten person.

kalawoleh

It is called Phooi Bhoot!

The Hokkien has a word version referring similarly to such person as chau chua!

dead dreams

The RCE RCPS is really chau chua!

I will murder... take my revenge?

All sellers and no buyers.

Gelak ketawa!

Such is the RCE exercise in irrelevance.

Stupid Arab Bank?

The winner is Hong Leong Investment Bank  with RM1.2 million for professional advice and POS Malaysia with fat postage stamps revenue in the bank.

Send some more-lah!

And the losers are shareholders and the forest which had to be fell to make paper for the useless RCPs to be printed.

Nothing good came out of the exercise.

A lost Cause...these RCPs!

It is best for Azman to buy it all up!

Murphy during Halloween

A lurking pipsqueak is around

When time is tight and you have to fill petrol in the morning before work, who would you possibly meet?

Yes, that's right, during the season of Halloween, Murphy comes a-calling at the petrol pump.

Got into my regular Esso station to fill my tank and found that it was closed.

Then, quickly drove to the nearest Esso station in the vicinity.

Murphy in action

What do you know-nasty mischievous Murphy was there too!

The pump refused my credit card and so I had to go into the station office to get my payments done up-front.

Crazy morning, don't you think?

The RCE RCPS-What are these?

What is this creature called the redeemable convertible preference shares (RCPS) that will be traded tomorrow by RCE Capital ?

Interestingly, what is the basis of it being offered at 38 sen? How was this price arrived at? Pegged to what?

Questions abound.

I have just read the document circulated to shareholder today.

I have mixed feelings-really mixed like ABC (Air Batu Campur) or rojak buah (fruit cocktail). I just had that!

Let us go first to the price pegging at 38 sen. Interestingly it was arrived based on the then average trading price of RM 0 .445 sen which was then calculated to offer shareholders an incentive premium of 27.95 %.
Following their construction then, the all ex-bonus price will be RM 0. 297 sen.

But alas! RCE is now only trading at RM 0.305 and RM 0.31 sen.

The premium of 0.008 to RM 0. 018 cannot even cover the brokerage,stamp duty and clearing house charges.

How-lah Azman?

So, if you buy the RCPs, you already lose 7 sen gross.

Best to kasi buang semua tomorrow when it trades,right?

If you are thinking of that, make sure you have at 3.5 sen differential before dumping the documents.

Anyway, for your knowledge, the trading of the rights is only from 1st to 7th November.

After that you get saddled with these RCPS like a pony until 2019 !

As for the 20% dividend, itu belum tentu-lagi samada it will be declared or not.

The projected returns is nice at 5.26 % but for now it may be illusionary and a 'bridge too far'

For me, this is my quandary.

 I have 500 shares, now I will have 750 shares in my CDS.

The number of  RCPS, I am entitled to will be 300 RCPS.

I will have to cough up the following:

RM 114 for subscription
RM 5 for bank draft
RM 10 for revenue stamp

So, kena bayar net RM 129.00 for only 300 units.

Worth it, ah?

If not, can buy some more when trading starts tomorrow?

Nah!

With Astro screwing up everyone, I think most minority shareholders will rather keep their cash.

Malaysian security industry watchdogs are  sleeping-lah!

Should be sacked en bloc!

The Gambit-YTL Power Warrants

Fair Distribution?

Did we play to lose in subscribing for the 20 sen YTLP warrants(YTLPW)?

I subscribed plenty and came out absolutely below average.

End result-I procured only 4.5 %.

Let us look at the gambit.

In chess, it means sacrificing some pieces to gain an advantage.

So my gambit consisted of the following:

4 bank-drafts at RM 5 each to total RM 20.00.

Revenue stamps-RM 20.00

Bus-fare of RM 1.90 to Tricor at the Gardens North Tower

As such gambit cost amounts to RM 41.90.

Power Failure

Now, let us look at the returns.

My son only got 400 units-very poor returns.

Sold at RM 0.42 sen and netted RM 138.94 after deducting overheads of RM 29.06.

Subscription was RM 80.00. Revenue Stamp took RM 10 and 2 bank drafts at RM 10.00

As such, net returns is RM 138.94 - RM 100.

So, the slim gain was RM 38.94.

Puny Returns

Compared to the gambit of  RM 20.00, actual returns for the risk taking is a return of 94.7%.

Now for my incursion.

Got 2,300 units. sold all at RM 0.42. Net returns of RM 936.71 after overheads of RM 29.29.

Subscription was RM 460.00. Revenue Stamp took RM 10 and 2 bank drafts at RM 10.00 and transportation of RM 1.90. This totals up to  RM 481.90.

So deducting for gambits, net return is RM 936.71-RM 481.90=RM 454.81

This may sound not too bad.

Return to gambit of RM 21.90, will be more than 2,200%

Between my son and me, we netted  RM 493.75.

Not even RM 500.00!

Good deal in percentage terms; but in absolute gains, puny!

So much for trying to play pucks with the market!

The Deserting Diners at the MCA Kulai Dinner

A Majestic Walk out in a Captive State?

Just like the dinner held recently in Kulai, I attended a free dinner in SEAPARK, Petaling Jaya about a few months back.

It was in conjunction with the Chang or Chinese dumpling festival.  It was certainly sponsored as I did not have to pay. All members of my family had a hearty dinner of about 8 courses.

There was no walk-out in the sense that occurred in Kulai. People left on three occasions during the dinner.

Once was when the dumplings were distributed and many brought them home.

The second time was when the electricity went out, an ominous and foreboding sign. So, without the whirring fans above, many more went home to escape the searing Malaysian heat.

The last was after all the dishes had been served. No one had any reason to stay behind. Would you?

The most incredulous thing was the people at most tables were talking when the MCA President was giving his speech. Nobody cared for the tirades of this de facto has-been, beyond-the-shelf-life office bearer. 

Some ladies were also whispering and giggling about his famous hotel escapade caught on DVD.

So, it is no wonder when 3,000 guests purportedly left the dinner when Soi Lek was giving his speech. Again, no surprise when not all tables were full. It happened in our SEAPARK function as well.

For the bastion state of MCA, the writings are on the wall in Johore. 

Running dog days may just be on the home stretch as MCA stumbles and fell at the 13^th GE.

Many could not see another more fitting ending for MCA but for it to fell to the abyss that it will never recover ever. 

One-time Keeper of the Ring

Soi Lek is no White Gandalf!  The  PR balrogs will get all its candidates.

One ring to conquer them all.

That has always been with a senior partner of the BN all along. 

Real BN power

Even puny parties from Sabah and Sarawak had a better deal in BN just like Gollum with his Precious!

PS:

He now blames China Press for highlighting the episode of the  exodus of the dinner guests, citing that they were leaving early to beat the traffic.

Bad Food, Broken Trust

Broken trust!

It was one of the worst traffic snarl in a long while.

I was caught for almost an hour and the toll plaza at the Kerinchi Link.

Traffic was hardly moving on the Federal highway though we almost caught a breeze on the Cheras road leading to Bandar Sri Permaisuri, even as the traffic caught up with us on the approach road to the new township.

As it was impossible to drive back in the glacier like traffic, we stopped at this Malay restaurant to have a bite. We thought we passed it a while ago and it was serving  kampung fried rice with that aromatic salt fish flavour.

Sorry, no such dish. Imagine that!

So we ordered an ikan pari, so-called Portuguese style which was at best, insipid without the sambal and the local salad.

I could tolerate the Mee Bandung.

The chicken goreng  rempah was so miserable; you just wanna laugh or on second thoughts, cry! It was so scawnnily small.

The fruit drinks we ordered, mango and star-fruit were okay.

Cost me RM 31.00.

Verdict- lousy.

Tears won't help here!

No need for apologies!!

Never darken their doorways again!

Bandar Sri Permaisuri Cheras

Interesting township

I never knew this township existed until I brought my daughter to work there.

This is a perfect Malay town with the majority of businesses run by bumiputras.

The roads are really cramped out with residents parking on both sides of the road. So be careful as you may just bump into one of these parked vehicles.

The town has a life of its own as the residents there could have the threshold spending power to support these restaurants.

So far, we have eaten at the Bistro, Kayu and the sole Chinese coffee-shop.

Food is not cheap here and yet we see them crowded in the evenings.

Except for some illegal cyber-cafes, there is no entertainment in this township.

When it rains, the Cheras Highway may be jammed and you may find it difficult to get in or out of the township.

Duped into Gold Trading?

When will Bank Negara give us a Solution?

Why would they take out their hard-earned savings and gave it to some sharp dressed man or woman who actually gives them back their own money, little by little?

On just a concept such as hiba which actually meant gift, these gullible people are suckered in.

Now they are at a loss as the authorities, as usual act to late, so much so more victims had been led into the trap.

Victims of Bestino demonstrate outside PM's Department

What are the chances that they will get back  their money since most of these companies operate ponzi-like scheme?

I fear for them unless the government  bails out all these so called investors 

Fall from Grace?

Old Cows Returning to Roost?

The number of controversies coming out of the woodwork is calamitous!

Like an ever-returning ghost, it continues to haunt.

No Safety-Net?

Tell no lies. then you need cover none.

For the ruling party, there is no stopping the kind of so-called 'grave' issues that keep on coming to the fore.

When old issues remain unresolved, new ones are just spurting like ink all over the place like an octopus on heat.

The latest one on the Dolomite Condominium project near the heritage-protected area of Batu Caves is quickly becoming an embarrassment even though the other hot issues like the RM 40 million mysterious donation to UMNO Sabah  and the Genneva Gold Investment Scheme has not seen any possible resolution in sight,whatever the authorities like Bank Negara may or may not say.

BN will lose the the support of the  returning Indian supporters if no quick satisfactory answer are found for  the Batu Cave Condominium. Similarly the urban middle class trapped by Genneva and the other gold selling scams may in abject disgruntlement, vote against the ruling government.

I think PM Najib is having one tough time now when he needs to call the general election any time soon.

Heavy Falling Out?

Especially so when the other BN parties like MCA, MIC,SUPP and Gerakan is likely to fade away permanently  from the political limelight of the Garden of Eden after the 13th GE. It's one heavy falling out............

Is 'Falling' the name of the game now?

Sylockian Attitude Rules the Roost

Will Never have the old Man's Stature

He is not his father, that is for sure.

His attitude? Not even friendly to minority share-holders.

Where his father is benevolent to the old and aged that attends the Group company's AGMs, he stands apart.

Like that terse scion from Genting, the power has gone to the upper end of the human body of this corporate newbie as well.

While it may have not been apparent in the case of BJ Media, where door gifts were the same for all shareholders, the practice departed with BJ Sports Toto. It continued with BJLand.

A shareholder with 99 shares will get a lousy door - gift of inferior value.

Today, the door gifts for BJ Corp was really stratified. Like the social classes of human society. It has become an art for these new corporate gung-hos.

Hey, a shareholder is a shareholder; whether he attends personally or by proxy!

He has equal rights and privileges.

However, not these Berjaya people- me no unnerstand---lor.....

So, they play King-kong.

If you have 1000 units, you get the best door-gift deal. You get  RM 20 KRR, RM 20 Starbucks,RM 10 Krispy Kreme and also a food voucher to dine at the Coffee-house or Chinese Restaurant; and before I forget, also a recyclable canvas bag!

For 100 units and above, you get a better value pack. All the food vouchers but no bag.

Woe betide those with less than 100 units. They only get RM 20.00 of KRR.

Stupid policy; and also no more hotel stay. Aiyayah! kalawoleh!

What a bird!

While it was a joy to own Berjaya shares in the past,  today they are down in the dumps.

For instance:

BJ Toto was about RM5.40. Today it is RM4.30

BJLand was about RM 1.10. Today it is 89 sen

BJMedia was about 70 sen. Now it is 40 sen.

Berjaya Assets was RM 1.10. Now it is 89 sen as well

BJ Corp was RM 1.30. Now it is 60 sen!

Cry Cry Cry!

Berjaya counters tak boleh pakai!

Woit! Birdie-birdie Num Num! Apa macam?

A New Dimension to Friendship!

My friend is the best!

The word friendship can be interpreted  or bandied about in many ways;mostly nebulous.

For many, even an acquaintance is labelled a friend; and so are colleagues from the office.

A lunch partner is also a buddy.

We also have the cheeky audacity to term people as friends even if we see them once in two blue moons.

Others used money as a measurement of friendship. If you can be a guarantor for a personal loan from the neighbourhood bank, you are my friend.

If you can pinjam me money, you are my kawan!

Nothing beats this picture.

For the very young where hypocrisy is as remote as if it exists only on Jupiter or Mars, friendship is true....even in the bathroom when you take a wee-wee!

RCE-To Subscribe or Not to Subscribe

Will it Come Back to its Former Glory?

Now, you are again given Hamlet's choice.

No, no, no, not  Hobson's choice.

To buy or not to buy? To sell or not t o sell?

To act insane or you already are with the SC and BSKL trying to screw your brains out!

RM 0.315 sen is the adjusted price today when RCE Capital went ex-all.

I do not know how the market is going to value the new redeemable convertible non-cumulative preference shares (RCPS) which will soon be open for subscription in the first week of November. It is priced at a very high value of RM 0.38 sen on the basis of 2 units for every 5 RCE shares held after the bonus issue.

Let us say you have 2000 shares in RCE which you are fully entitled to the new issues. With the bonus thrown in,it means you have 3000 shares. The original 2000 shares were trading at RM 0.445 sen last Thursday  (25th October). That means they were worth RM 0.89 sen.

Lending to government servants- a Solid Deal!

At the current price of let's say RM 0.30 sen, and you have 3000 shares, it means that you have fair value of about 90 sen. Plus or minus, there is actually no gain. No extra value. Nada!  The bonus is what the Malays termed as 'buat sibuk sahaja!"

So, now is the moment of truth. You are offered 1,200 units. They will deposit these new units into your CDS account on 31 October 2012.

What would you do?

Sell the option papers into strength when the offer papers go on sale on 1st November  or subscribe to 'test the water' by paying for the new rights by 19 November?

Remember the rights trading ends on 7 November if you intend to sell.

I really do not know what is the value.

It is something like Berjaya Foods which can actually fetch a huge value. Today it is trading at 57 sen.

My opinion:

RCE has always been a safe counter until it was 'royally screwed" along with the Angkasa debacle orchestrated by the silly Commission of Cooperatives!

As usual, sadly the rakyat gets screwed by the government.

I think it is on the recovery track and hopefully through this capitalization exercise can go the extra mile to bring up profits as well as RCE's share price.

On the long run, Azman Hashim's counters do not disappoint.

Caveat emptor!

School's Out for 2012

A Rowdy Farewell

School's out for the year.

Until the term begins in 2013, I will be on long leave from tutoring at the center.

I have been toying with this idea.

Firstly, I am going on with age.

Secondly, I cannot get a replacement for my job at the tuition center.

Thirdly, I need to go back often to see my ailing father.

Yet, on balance, it seems that I will have to soldier on for yet another year as the current consultancy jobs and writing assignments are 'too variable' in nature. Some years can be good, others can be lean.

So far, God has been kind.

But, for pragmatic reasons, I will have to provide teaching materials to be center for them to take over the class when I need to take leave.

Sure it will be gratis and they do not have to pay me, too!

Grand Prize, Man!

Bringing it back in my small car was a hassle!

I was just telling my wife," Do you know at this time yesterday,we still have not won this 43 inch TV that now sits resplendently in our hall's sideboard?"

I was the last chap to sign the guest list for this function.

And my name was the last to be called and I won the grand prize.

It was not the price of the prize that matters after all TVs today are a dime a dozen.

This Plasma set was just the one before the launch of their 3-D set.

On checking, it cost RM 1,360.00.

Great to have a prize after a long, long time.

Praise the Lord!

Which Machine,my friend?

This was going around the internet for sometime.

The ATM Will do It!

The tongue and cheek line has a pot-bellied man asking a training coach what machine he should use to attract a beautiful and fit women.

His answer: The ATM!

Seduction Alvin-Vivian Style

What now, my love?

It may not be as hot as when it first exploded onto the blog screen but many are scouring the internet for the three videos.

Many were fortunate to see the couple at the climactic  heat of the moment.

Now, you may be lucky it the videos even 'open' for you to enjoy these lusty moment of hot sexual pursuit.

The sex-rape video was nothing great so I was told.

Narcissistic Cam-whores?

The oral episode was again another let down but the Last Tango in Kuala Lumpur was sexually quite aggressive  I was informed.

Apparently it was somewhere between pink and blue.

So, while Alvin  faces the Disciplinary Board of NUS, I wonder what is Vivian doing these days?

The Losing of the Pot of Del Oro

Glitter is All gone

For many, after 4 years of receiving hibah, nothing could possibly go wrong. At more than 30% annual returns, they were awashed in moolah while their poorer cousins had to tolerate the low fixed deposit regime of an average 2.8%.

To lend authenticity to their name, the company brought in the King, The First Lady Rosmah and obviously Mr Gold is God ex-PM, Mahathir at their functions.

It was all rosy as an impending Mediterranean holiday package when it all caved in. On both sides of the Causeway, Genneva was raided by the authorities.

Mama Mia! It's All gone!

Now, the Deputy Finance Minister seems to point to the fact that the operations of this company was 'all mist and mirrors' and have been operating a Ponxi scheme of sorts. Liabilities was more than assets.

For those who gave in their life-savings to these scheme ,woe betide and they may not crawl out of this hell hole forever. May be in another life!

Just like how they screwed up the Astro IPO by selling a debt ridden Astro, do not trust the Malaysian  authorities. Not the current politicians and always, not any ex-PMs.

These ex-PMs do not do magic. Not on the job, never when out of the job!

All that glitters is not gold!

Les Miserables!

T'is but a valuable lesson to learn when your nest-egg is all gone!

An Eggnest Bears Fruit

An Egg-nest in Your Hands

When my son was 4 years old, I bought into an annuity for him so that part of his educational expenses at the tertiary level will be financed therefrom.

It's that time now.

After collecting back my initial outlay, we have to be reimbursed for the fees that we have paid the university.

Growing a Future

The annuity managed by KOOP Malaysia pays out  twice a year based on  academic results.

If a beneficiary fails to make the mark, he cannot collect the next disbursement due.

Those beneficiaries that quit their courses will also lose as what is left in their account will be shifted to the residual account to support other students on longer courses.

A Small Harvest

So, my son has to work doubly hard to get this annuity payout.

Lunch and Tea at the Royal Lake Club

Grand Club

Today was a rushy day of sorts for me.

First stop was Bukit Kiara Equestrian Club to attend the Berjaya Land AGM.

Next stop-Bandar Sri Permaiuri in Cheras to bring my daughter to work.

Then its back to University Hospital for my hospital appointment.

Finally, after a bus ride and a short walk home, I was on my way to the Royal Lake Club to have lunch at the Chinese Restaurant with my friend, Mr. Lai.

Met Mr Yee, an ex-judge and Eric as well as Mrs. Lai.

We had a swell time talking about almost anything, at tea time with mocha and latte; from Chinese burials to economy shopping to studying at Cambridge.

We should meet more often.

THHE-The Dead-weight Defies Gravity

Riding out of P17

It must really be getting closer for Tabung Haji Heavy Engineering Bhd (THHE) after it submitted its 3rd quarter report ending September 2012 to the BSKL.

So, it looks like the Fates are rooting for it to get out from the P17 shackles to roam wild and free and to raise any market capital it wants.

I do hope this is not a false start as many before this.

It touched 60 sen before ending at 59.5 sen. Similarly the warrants moved up to 42 sen.

This signals a clear departure and I believe the rumours in the market that  it may go beyond 60 sen and perhaps melonjak another 20 sen.

Touching 80 sen would be grand! It would be swell, Tabung Haji!

The Mortgage Isn't Really worth the Paper......

The Paper gets useless as you aged

When you are old and do not have an income, even having a house to mortgage isn't any good.

So, remember when you do have a valuable asset in hand like a property that is unencumbered, do use it as a leverage to buy another property while you are still earning.

The longer years you have right up to 70 years old will also ensure the payback amount per month is really bearable.

Otherwise, that property is only good if you become a guarantor for your children.

As property prices are really crazy in the Klang Valley, it pays to take a risk and buy a property now.

As your children may have just started working and would not have the wherewithal to put down even a small deposit for a home, parental assistance goes a long way to ensure they have a property pat down while the price is still affordable.

Imagine buying a small pigeon-hole of a unit at the Icon near the Sunway Bridge will cost you more than RM1,000 per square feet. God forbid!

The risk taker will be rewarded as property goes into boom and bust cycles.

If you can ride these speed bumps you will emerge the winner!

Lady Luck and YTL Power Warrants

So much demand for the warrants

For those who applied for excess warrants which was offered by YTL Corp to its shareholders, the chances of obtaining them seems quite remote.

From the announcement made to Bursar KL, the over-subscription rate is 125.53%. On those offered the warrants, 98.14% accepted them through subscription whereas the balance representing 12,837,712 will be distributed to those who applied for excess shares based on the policies set forth by the Board of Directors; namely odd lots will be rounded up to tradeable lots and the balance be distributed accordingly based on the number of shares held by the applicant at the time of application. If there are any excess shares after that, these will be distributed to those who applied for it through subscription.

For those who applied for the warrants, they should receive a notice of allotment by 25 October. Both allotted warrants and successful excess warrants will be deposited into the applicants’ CDS on 31 October 2012.

Lady Elusive?

So were you lucky?

If not, get ready to en-cash your returned cheques.

For me, I have RCE’s RCPS on the way and if they are are worth it, I should try my luck here.

I am not too sure of the value as they do valuation so differently these days.

Is Astro out of the ICU?

Suffering under Scheming Sellers

This morning there was some broad buying at the RM 2.74 and RM 2.75 levels.

All the others are some retail buying, picking small lots here and there.

Though, Astro has yet to develop a sustainable buyer base, it looks like the selling tsunami might just be over and Astro employees holding their house stock can breathe more easily; no thanks to Ananda Krishnan for sure as much as he is still their boss!

For those who got royally screwed by the authorities irresponsibly by giving this IPO a rich valuation,hopefully you will think twice before going into another  'cheaty' Malaysian IPO.

To tell you the truth, I got screwed royally in UOA Development, EITA, Eversendai and now this rubbishy Astro stock.

Bursa KL and Securities Commision, bangunlah! Benchmark yourself as a leading custodian of the market!

All these super-rich valuations shows how off the mark you people are! Tada bacakah?

Will today be the moving target up beyond IPO price?

Currently, the stock is trading above the psychological level of RM 2.80.

It is slowly climbing to the RM 2.82 level.

By lunch time, Astro have climbed 12 sen to RM 2.84.

From the number of buyers, it looks like there could possibly be a shoulder forming to provide traction and take Astro out of the ICU from intravenous feeding.

At the closing, it was at RM 2.89, its highest price for the day.

Is someone setting a benchmark for the next push beyond RM 3.00 before the Hari Raya Haji holidays?

Was the Seller the Mysterious Buyer Now?

Remote Signals to Sell and contribute?

Remember that counter, Berjaya Retail?

It had to be taken private again after listing which benefited only the investment banks.

Vincent lost out in cash but his goodwill with certain parties remained.

I think we are seeing de javu replayed in the case of Astro.

Let me spin an urban legend here.

I think the mysterious buyer is the offeror who has been selling down his stock perhaps on some imperial directive.

A possibility - to build up a war-chest for the impending general elections.

As there are REALLY, really very little retailers who got the shares from the IPO, I do not believe they actually sold except for a few jittery ones who were coaxed by the market to sell; and those with high risk appetite that sold to buy back at a lower price to make profit in this manner. Not many here as well.

Employees of Astro? Very remote. Most will want to hold the stock.

So, the only possible conclusion-the offeror oversold and shorties blew it all the way down the chute.

This was compounded by cornerstone investors who may have sold on disgust. No, thanks to the authorities which approved the over-rich valuation for the IPO!

I think a selling plateau is forming as buyers are coming in to buy when the stock is cheaper by 10%.

Time for a rebound and win!

I think Astro should find traction in a few days time and we may find a rebound in the works.